FBIZNasdaqState Commercial BanksFiscal year ends December 31
FIRST BUSINESS FINANCIAL SERVICES, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$69.80−0.72 (-1.02%)
Close on Oct 19, 2026
- Market cap
- $572.92M
- P/E (TTM)
- 10.6
- Dividend yield
- 1.66%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
71.0%
6M of 8M shares
Institutional holders
142
12 new, 13 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
1 buys · 1 sales
Net sold $43.73K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Dimensional Fund Advisors LP | 525,683 | 6.30% | 13G (passive) amendment | Dec 29, 2023 |
| BlackRock, Inc. | 505,631 | 6.10% | 13G (passive) amendment | Mar 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of FBIZ | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 928,380 | 11.09% | $58.65M | +58,178 | 0.00% |
| Dimensional Fund Advisors LP | 498,430 | 5.96% | $31.49M | −1,286 | 0.01% |
| Vanguard Capital Management LLC | 343,482 | 4.10% | $21.70M | +2,944 | 0.00% |
| First Business Financial Services, Inc. | 340,189 | 4.07% | $21.49M | −21,122 | 1.67% |
| American Century Companies Inc | 272,788 | 3.26% | $17.23M | +32,651 | 0.01% |
| Manufacturers Life Insurance Company, The | 243,005 | 2.90% | $15.35M | −1,790 | 0.01% |
| Geode Capital Management, LLC | 214,987 | 2.57% | $13.58M | +15,215 | 0.00% |
| State Street Corp | 187,371 | 2.24% | $11.84M | +13,653 | 0.00% |
| Banc Funds Co LLC | 163,224 | 1.95% | $10.31M | −3,000 | 1.70% |
| Cutler Capital Management, LLC | 154,346 | 1.84% | $9.75M | −244 | 2.53% |
| Lsv Asset Management | 141,025 | 1.69% | $8.91K | −2,600 | 0.02% |
| Pacific Ridge Capital Partners, LLC | 139,808 | 1.67% | $8.83M | −1,084 | 1.60% |
| Aqr Capital Management LLC | 128,927 | 1.54% | $8.14M | +34,300 | 0.00% |
| Federated Hermes, Inc. | 125,563 | 1.50% | $7.93M | +9,430 | 0.01% |
| Renaissance Technologies LLC | 120,865 | 1.44% | $7.64M | −1,600 | 0.01% |
| Vanguard Portfolio Management LLC | 101,542 | 1.21% | $6.41M | +9,273 | 0.00% |
| De Lisle Partners LLP | 98,812 | 1.18% | $6.26M | – | 0.68% |
| Hillsdale Investment Management Inc. | 91,671 | 1.10% | $5.79M | +8,600 | 0.13% |
| Northern Trust Corp | 83,399 | 1.00% | $5.27M | +3,926 | 0.00% |
| Bridgeway Capital Management, LLC | 80,557 | 0.96% | $5.09M | +3,175 | 0.09% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 142 | 6M | 71.0% | 12 / 65 | 40 / 13 | 0M | 0M |
| Q1 2026 | 144 | 6M | 69.0% | 17 / 59 | 36 / 11 | 1M | 0M |
| Q4 2025 | 139 | 6M | 68.4% | 18 / 53 | 46 / 12 | 0M | 0M |
| Q3 2025 | 136 | 6M | 68.3% | 27 / 48 | 35 / 8 | 0M | 0M |
| Q2 2025 | 117 | 6M | 67.6% | 14 / 43 | 37 / 13 | 0M | 0M |
| Q1 2025 | 116 | 6M | 66.9% | 21 / 39 | 41 / 8 | 0M | 0M |
| Q4 2024 | 104 | 6M | 66.3% | 18 / 49 | 19 / 8 | 1M | 0M |
| Q3 2024 | 94 | 5M | 63.6% | 14 / 37 | 22 / 7 | 1M | 0M |
| Q2 2024 | 88 | 5M | 62.3% | 10 / 33 | 25 / 6 | 0M | 0M |
| Q1 2024 | 84 | 5M | 63.4% | 6 / 31 | 23 / 6 | 0M | 0M |
| Q4 2023 | 84 | 5M | 62.2% | 8 / 31 | 23 / 5 | 0M | 0M |
| Q3 2023 | 82 | 5M | 62.2% | 7 / 21 | 30 / 4 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of FBIZ | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 237,417 | 2.84% | $15.00M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 226,151 | 2.70% | $14.29M | 0.02% | Jun 30, 2026 |
| Avantis U.S. Small Cap Value ETF | 216,410 | 2.59% | $12.45M | 0.05% | May 31, 2026 |
| Regional Bank Fund | 133,317 | 1.59% | $9.36M | 0.98% | Jul 31, 2026 |
| BlackRock Advantage Small Cap Core Fund | 125,652 | 1.50% | $7.23M | 0.14% | May 29, 2026 |
| U.S. Small Cap Value Portfolio | 100,745 | 1.20% | $7.07M | 0.04% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 98,299 | 1.17% | $6.21M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 88,007 | 1.05% | $6.18M | 0.02% | Jul 31, 2026 |
| U.S. Targeted Value Portfolio | 76,778 | 0.92% | $5.39M | 0.03% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 76,691 | 0.92% | $4.84M | 0.03% | Jun 30, 2026 |
| Adara Smaller Companies Fund | 55,039 | 0.66% | $3.17M | 0.38% | May 31, 2026 |
| Dimensional U.S. Targeted Value ETF | 48,795 | 0.58% | $3.43M | 0.02% | Jul 31, 2026 |
| Vanguard Dividend Appreciation Index Fund | 47,305 | 0.57% | $3.32M | 0.00% | Jul 31, 2026 |
| U.S. Small Cap Portfolio | 47,250 | 0.56% | $3.32M | 0.02% | Jul 31, 2026 |
| EA Bridgeway Omni Small-Cap Value ETF | 45,157 | 0.54% | $2.85M | 0.12% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David R. Seiler | President and CEO, Director | 41,187 | 0.49% | May 19, 2026 |
| Jodi A. Chandler | Chief Human Resources Officer | 22,565 | 0.27% | Aug 28, 2026 |
| Laura M. Garcia | Chief Risk Officer | 4,648 | 0.06% | May 19, 2026 |
| Kevin D. Crampton | Chief Accounting Officer | 2,347 | 0.03% | May 19, 2026 |
| Daniel Ovokaitys | Chief Information Officer | 11,811 | 0.14% | Apr 14, 2026 |
| Brian D. Spielmann | CFO | 8,812 | 0.11% | Apr 14, 2026 |
| James Edward Hartlieb | Pres&CEO First Business Bank | 31,637 | 0.38% | Apr 14, 2026 |
| Bradley A. Quade | Chief Credit Officer | 17,678 | 0.21% | Apr 14, 2026 |
| Niamh M. Kristufek | President - Specialty Finance | 3,590 | 0.04% | Feb 18, 2026 |
| Mark J. Meloy | EVP | 55,933 | 0.67% | Apr 15, 2025 |
| Scott M. Ferris | Director | 775 | 0.01% | Aug 18, 2026 |
| Daniel P. Olszewski | Director | 27,405 | 0.33% | May 19, 2026 |
| Corey A. Chambas | Director | 139,782 | 1.67% | May 19, 2026 |
| Gerald L. Kilcoyne | Director | 106,327 | 1.27% | May 19, 2026 |
| William Kent Lorenz | Director | 17,849 | 0.21% | May 19, 2026 |
| Carla C. Chavarria | Director | 8,446 | 0.10% | May 19, 2026 |
| Laurie S. Benson | Director | 8,681 | 0.10% | May 19, 2026 |
| Jason R. Graham | Director | 3,930 | 0.05% | May 19, 2026 |
| Ralph R. Kauten | Director | 42,443 | 0.51% | Aug 1, 2025 |
| Carol P. Sanders | Director | 2,925 | 0.03% | Dec 17, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Jodi A. Chandler Chief Human Resources Officer | Aug 27, 2026 | Sale | −675 | $70.19 | $47.38K | 22,550 |
| Scott M. Ferris Director | Aug 16, 2026 | Award | +575 | – | – | 575 |
| Kevin D. Crampton Chief Accounting Officer | May 16, 2026 | Tax withholding | −54 | $53.81 | $2.91K | 2,347 |
| Laura M. Garcia Chief Risk Officer | May 16, 2026 | Tax withholding | −194 | $53.81 | $10.44K | 4,648 |
| Laurie S. Benson Director | May 16, 2026 | Award | +710 | – | – | 8,681 |
| Daniel P. Olszewski Director | May 16, 2026 | Award | +710 | – | – | 27,405 |
| William Kent Lorenz Director | May 16, 2026 | Award | +710 | – | – | 9,671 |
| Jason R. Graham Director | May 16, 2026 | Award | +710 | – | – | 3,930 |
| David R. Seiler President and CEO, Director | May 16, 2026 | Award | +3,815 | – | – | 41,187 |
| Carla C. Chavarria Director | May 16, 2026 | Award | +710 | – | – | 8,446 |
| Corey A. Chambas Director | May 16, 2026 | Award | +710 | – | – | 122,790 |
| Gerald L. Kilcoyne Director | May 16, 2026 | Award | +710 | – | – | 66,691 |
| Laura M. Garcia Chief Risk Officer | Apr 10, 2026 | Award | +2,500 | – | – | 5,950 |
| Laura M. Garcia Chief Risk Officer | Apr 10, 2026 | Tax withholding | −1,108 | $58.60 | $64.93K | 4,842 |
| Brian D. Spielmann CFO | Apr 10, 2026 | Award | +3,190 | – | – | 8,812 |
| Brian D. Spielmann CFO | Apr 10, 2026 | Tax withholding | −1,501 | $58.60 | $87.96K | 7,311 |
| Jodi A. Chandler Chief Human Resources Officer | Apr 10, 2026 | Award | +2,080 | – | – | 24,059 |
| Jodi A. Chandler Chief Human Resources Officer | Apr 10, 2026 | Tax withholding | −834 | $58.60 | $48.87K | 23,225 |
| Corey A. Chambas CEO, Director | Apr 10, 2026 | Tax withholding | −4,875 | $58.60 | $285.68K | 122,080 |
| Corey A. Chambas CEO, Director | Apr 10, 2026 | Award | +10,370 | – | – | 126,955 |
| David R. Seiler President and COO | Apr 10, 2026 | Award | +4,780 | – | – | 39,284 |
| David R. Seiler President and COO | Apr 10, 2026 | Tax withholding | −1,912 | $58.60 | $112.04K | 37,372 |
| Daniel Ovokaitys Chief Information Officer | Apr 10, 2026 | Award | +2,430 | – | – | 11,811 |
| Daniel Ovokaitys Chief Information Officer | Apr 10, 2026 | Tax withholding | −1,143 | $58.60 | $66.98K | 10,668 |
| Bradley A. Quade Chief Credit Officer | Apr 10, 2026 | Award | +2,740 | – | – | 17,678 |
| Bradley A. Quade Chief Credit Officer | Apr 10, 2026 | Tax withholding | −1,096 | $58.60 | $64.23K | 16,582 |
| James Edward Hartlieb Pres&CEO First Business Bank | Apr 10, 2026 | Gift | −127 | – | – | 31,637 |
| James Edward Hartlieb Pres&CEO First Business Bank | Apr 10, 2026 | Award | +2,730 | – | – | 32,803 |
| James Edward Hartlieb Pres&CEO First Business Bank | Apr 10, 2026 | Tax withholding | −1,039 | $58.60 | $60.89K | 31,764 |
| James Edward Hartlieb Pres&CEO First Business Bank | Feb 16, 2026 | Tax withholding | −392 | $58.36 | $22.88K | 30,073 |
| James Edward Hartlieb Pres&CEO First Business Bank | Feb 16, 2026 | Award | +715 | – | – | 30,465 |
| Jodi A. Chandler Chief Human Resources Officer | Feb 16, 2026 | Tax withholding | −313 | $58.36 | $18.27K | 21,979 |
| Jodi A. Chandler Chief Human Resources Officer | Feb 16, 2026 | Award | +550 | – | – | 22,292 |
| Corey A. Chambas CEO, Director | Feb 16, 2026 | Tax withholding | −1,531 | $58.36 | $89.35K | 116,585 |
| Brian D. Spielmann CFO | Feb 16, 2026 | Tax withholding | −603 | $58.36 | $35.19K | 5,622 |
| Brian D. Spielmann CFO | Feb 16, 2026 | Award | +875 | – | – | 6,225 |
| Niamh M. Kristufek President - Specialty Finance | Feb 16, 2026 | Award | +660 | – | – | 3,590 |
| Niamh M. Kristufek President - Specialty Finance | Feb 16, 2026 | Tax withholding | −254 | $58.36 | $14.82K | 3,336 |
| Bradley A. Quade Chief Credit Officer | Feb 16, 2026 | Tax withholding | −420 | $58.36 | $24.51K | 14,938 |
| Bradley A. Quade Chief Credit Officer | Feb 16, 2026 | Award | +735 | – | – | 15,358 |
| Daniel Ovokaitys Chief Information Officer | Feb 16, 2026 | Tax withholding | −406 | $58.36 | $23.69K | 9,381 |
| Daniel Ovokaitys Chief Information Officer | Feb 16, 2026 | Award | +595 | – | – | 9,787 |
| Kevin D. Crampton Chief Accounting Officer | Feb 16, 2026 | Tax withholding | −101 | $58.36 | $5.89K | 2,401 |
| Kevin D. Crampton Chief Accounting Officer | Feb 16, 2026 | Award | +610 | – | – | 2,502 |
| David R. Seiler President and COO | Feb 16, 2026 | Award | +1,655 | – | – | 35,169 |
| David R. Seiler President and COO | Feb 16, 2026 | Tax withholding | −665 | $58.36 | $38.81K | 34,504 |
| Laura M. Garcia Chief Risk Officer | Feb 16, 2026 | Award | +605 | – | – | 3,848 |
| Laura M. Garcia Chief Risk Officer | Feb 16, 2026 | Tax withholding | −398 | $58.36 | $23.23K | 3,450 |
| Corey A. Chambas CEO, Director | Nov 12, 2025 | Gift | −200 | – | – | 118,116 |
| Corey A. Chambas CEO, Director | Nov 12, 2025 | Gift | −200 | – | – | 118,316 |
| Kevin D. Crampton Chief Accounting Officer | Nov 7, 2025 | Buy | +71 | $51.40 | $3.65K | 1,892 |
| James Edward Hartlieb Pres&CEO First Business Bank | Aug 16, 2025 | Tax withholding | −104 | $49.54 | $5.15K | 29,750 |
| Jason R. Graham Director | Jul 30, 2025 | Buy | +1,000 | $47.87 | $47.87K | 3,220 |
| Ralph R. Kauten Director | Jul 30, 2025 | Buy | +10,000 | $47.80 | $478.00K | 29,756 |
| Kevin D. Crampton Chief Accounting Officer | May 16, 2025 | Tax withholding | −56 | $49.38 | $2.77K | 1,821 |
| Ralph R. Kauten Director | May 16, 2025 | Award | +620 | – | – | 19,756 |
| Daniel P. Olszewski Director | May 16, 2025 | Award | +620 | – | – | 26,695 |
| William Kent Lorenz Director | May 16, 2025 | Award | +620 | – | – | 8,961 |
| Laurie S. Benson Director | May 16, 2025 | Award | +620 | – | – | 7,971 |
| Jason R. Graham Director | May 16, 2025 | Award | +620 | – | – | 2,220 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Daniel Ovokaitys Officer | Feb 6, 2025 | 4,828 | $261.20K | Feb 6, 2025 | Restricted Stock Vesting |
| Carol P. Sanders Director | Dec 12, 2024 | 8,881 | $446.27K | Dec 13, 2024 | Open Market Purchase |
| Corey A. Chambas Officer, Director | Nov 7, 2024 | 40,000 | $1.78M | Nov 7, 2024 | Performance Restricted Stock Unit Vesting |
| James Edward Hartlieb Officer | Oct 31, 2024 | 6,334 | $280.28K | Oct 31, 2024 | Restricted Stock Vesting |
| Mark J. Meloy Officer | Aug 9, 2024 | 5,000 | $204.15K | Aug 12, 2024 | Restricted Stock Vesting |
| Jodi A. Chandler Officer | Aug 28, 2023 | 8,200 | $264.04K | Aug 28, 2023 | Restricted Stock Vesting |